Disclaimer:The following blog-post is sponsored by ABLE United and Bloggin Mamas. All opinions are my own.
In my last post about ABLEUnited I shared about Financial Planning for your Differently Abled Child. This time I wanted to share a few of the most frequently asked questions about this great program offered by A Better Life Experience,which allows friends and families to save for an individual with a disability.
Most Frequently Asked Questions about the ABLE United program:
Q:What is an ABLE account?
An ABLE account is a tax-free savings and investment account established to support qualified disability expenses for an individual with a disability, including living expenses. Money in an ABLE account is generally disregarded when determining eligibility for federal benefit programs, such as Supplemental Security Income (SSI) and Medicaid.
The ABLE United Program is the qualified ABLE program offered by the state of Florida. ABLE accounts in the ABLE United Program are referred to as ABLE United accounts.
Q: What is an ABLE account?
An ABLE account is a tax-free savings and investment account established to support qualified disability expenses for an individual with a disability, including living expenses. Money in an ABLE account is generally disregarded when determining eligibility for federal benefit programs, such as Supplemental Security Income (SSI) and Medicaid.
The ABLE United Program is the qualified ABLE program offered by the state of Florida. ABLE accounts in the ABLE United Program are referred to as ABLE United accounts.
Q: How do I open an ABLE United account?
You may open an ABLE United account quickly and easily online at ableunited.com. Enrollment may be completed by the individual with a disability or someone with legal authority over the individual, such as a parent or legal guardian.
Q: Who may contribute to an ABLE United account?
Anyone may contribute to an ABLE United account on behalf of the individual with a disability, including the individual, an employer, friends and family. Contributions are considered a completed gift.
Check out ABLE United’s Eligibility Wizard – this will help you determine if the person you are applying for meets the eligibility requirements for an ABLE United account. Link here:
